Question
Suppose a firm has a production function:
Y =A∗K1/3N2/3
with A = 100 and K = 40. Output sells for a
price of $10 each. The nominal wage is W = $500 and the price level is 10. How many workers should the firm hire?
Macroeconomics
Question
Y =A∗K1/3N2/3
with A = 100 and K = 40. Output sells for a
price of $10 each. The nominal wage is W = $500 and the price level is 10. How many workers should the firm hire?
Macroeconomics